Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| And the benefit of that scale is a few, right? One is we are able to attract a nice large stable of providers and therapists because it's a great two sided marketplace |
| One of the things we have found with BetterHelp is the reason that we are able to attract the users we do and the providers that we do, we have really strong both consumer NPS and provider NPS scores, is because of the product and the experience that providers and users have on the platform |
| International is about 15% of BetterHelp's revenue, has been growing faster than overall BetterHelp |
| I get asked more these days than I have ever before in terms of our cash flow, our financial strength, our financial stability |
| If I'm not mistaken, that's really more through the integrated care segment with my strength, complete |
| And the quality of products and services that we offer is truly in my view a competitive advantage is a differentiator |
| We have a, Gen Med business, right, our virtual urgent care business that is very highly well penetrated, which is a stable book of business across our 90 million members, across thousands of clients, and we still have a high retention rate of clients |
| I would expect us to continue to grow, drive efficient returns, drive cash flows for that business |
| They will continue to attract users, and that will provide a tailwind for our growth |
| What is the value you are driving, mister or miss partner or vendor? And I would say, that is the way we are able to drive value with our clients is, number one, it is the breadth, if you think about whole-person care and our whole-person care strategy, the fact that we have the breadth of the solutions, we have the products and services we have actually enables us to drive better clinical outcomes |
| That is a very stable base of members that we can cross-sell and penetrate further into |
| Look, I think that there is, if you are, which you are asking me, how do you see this ramping up and how can you ramp up? I would say quite candidly, our learning through this has been you just have to be able to prove out that it is a better product, better consumer experience, gets to better clinical outcomes, actually helps drive spend, health care spend down, and that will take time |
| That still means there is a runway for growth in that business |
| So those are the kinds of areas where I would say we expect to see and drive growth |
| And their question really is around, do you have the capital to invest in innovation, to invest in products? So I would say continuing to build on our stable and suite of products and services refining them, making them better, adding features, adding products and services, that is how I would say we continue to appeal to our clients is both the breadth and the quality |
| Look, I would say BetterHelp right now is still got room to grow on the direct to consumer side |
| In our case, the product in my view is truly differentiated, because you have the member having essentially in the care of a physician, it's a longitudinal relationship |
| That will, in time, be able to allow us to prove out how effective has this been in terms of medical cost savings |
| First is for a business that's now over $1 billion in revenue, it's a larger number to drive growth off |
| Churn metrics have been very stable in the BetterHelp business |
| The second thing is the fact that we are as financially stable as we are, right? We have over $1 billion of cash on our balance sheet |
| So that is where our engagement capabilities and our enrollment capabilities truly do make a difference |
| There's an opportunity for us to penetrate further into those markets |
| We certainly the way we have designed the product, which in my view is truly differentiated from the lots of other so-called virtual primary care solutions in the market which many of which are actually virtual urgent care solutions |
| We will invest that to the extent that we need to in the right strategic bets such that we get the right returns on capital, which will drive revenue growth |
| And I would say with all the technology investments we have made in the past few years on data, on AI, where we are seeing that sort of come to life for us from a business benefit standpoint is greater and greater hyper personalization of our engagement with members, our enrollment with chronic care enrollees |
| I mean, my strength is one specific product in the B2B suite |
| Given that you've definitely demonstrated the markets that you can even drive profitability and drive free cash flow generation |
| And as we have talked about, Charles, in the past, virtual modality is, I feel, uniquely suitable for mental health |
| So that tailwind absolutely exists |
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| Mental health as I always say is a global problem |
| In some instances, certainly putting our fees at risk |
| And I would say, again, they are seeing smaller private competitors struggle from that perspective |
| So you get members you spend ad dollars bringing members onto the platform and then there is a natural churn |
| And so that does put some, I would say, constraints in terms of how much growth we will go after |
| Charles Rhyee Do you think that the macro environment I know a lot of concern over the last couple of years has been the macro environment and the impact to consumers and discretionary spending |
| So that could be a little bit of a headwind |
| What we have talked about is it's reasonable and logical to say if consumers are certainly feeling pinched in their wallet, might there be some reluctance to spend the $200 -- between $200 to $300 that they spend on this product |
| Charles Rhyee I think the biggest challenge in my mind is a lot of people have a primary care doctor, whether they see them consistently or not, but in their mind, say, I still have a doctor |
| For us to grow revenue, we would have to put incremental ad spend, and the amount of incremental ad spend that we can put in is somewhat gated by what returns we can get from an efficiency perspective |
| I think until more recently, I don't think we ever saw any signs of that |
| Because again, we're only going to drive savings if you can help drive utilization |
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